Seagate Given New $68.00 Price Target at Deutsche Bank (STX)
Deutsche Bank lowered their target price on shares of Seagate (NYSE:STX) from $71.00 to $68.00 in a research note issued on Tuesday, Analyst Ratings.Net reports. The firm currently has a “buy” rating on the stock. Deutsche Bank’s price objective suggests a potential upside of 17.14% from the stock’s previous close.
Several other analysts have also recently commented on the stock. Analysts at BMO Capital Markets cut their price target on shares of Seagate from $63.00 to $58.00 in a research note to investors on Tuesday. They now have a “market perform” rating on the stock. Separately, analysts at Zacks upgraded shares of Seagate from a “neutral” rating to an “outperform” rating in a research note to investors on Friday. They now have a $73.00 price target on the stock. Finally, analysts at Morgan Stanley upgraded shares of Seagate from an “equal weight” rating to an “overweight” rating in a research note to investors on Tuesday, January 21st. They now have a $72.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Seagate presently has an average rating of “Buy” and an average target price of $57.89.
Shares of Seagate (NYSE:STX) traded down 12.70% during mid-day trading on Tuesday, hitting $50.677. 13,486,697 shares of the company’s stock traded hands. Seagate has a one year low of $30.26 and a one year high of $62.76. The stock’s 50-day moving average is $56.27 and its 200-day moving average is $47.41. The company has a market cap of $16.528 billion and a price-to-earnings ratio of 12.82.
Seagate (NYSE:STX) last posted its quarterly earnings results on Monday, January 27th. The company reported $1.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.39 by $0.07. The company had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.56 billion. During the same quarter in the previous year, the company posted $1.38 earnings per share. The company’s revenue for the quarter was down 3.8% on a year-over-year basis. On average, analysts predict that Seagate will post $5.34 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, February 24th. Stockholders of record on Monday, February 10th will be paid a dividend of 0.43 per share. This represents a $1.72 annualized dividend and a dividend yield of 2.96%.
Seagate Technology plc (NYSE:STX) is the provider of electronic data storage products.
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